AMZN has made rapid progress toward the 938.17 correction target we’ve been using for the last week or so. I emphasize the word ‘correction, since every bout of weakness since 2009 has been engineered to shake loose shares into the hands of AMZN’s canny sponsors at relative bargain prices. We should plan on joining them with a bottom-fishing bid if and when this target is closely approached, but it may require a ‘camouflage’ or ‘mechanical’ set-up to do so with risk very tightly controlled. As always, you should tune to the chat room when appropriate if you’re interested, since that is where we are best able to adjust our strategies on-the-fly.
